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ADNOC Drilling Company announced the formation of the Turnwell joint venture with SLB and Patterson-UTI, aimed at accelerating a $1.7 billion unconventional oil and gas well program. The venture will expedite the delivery of 144 wells, with potential for additional wells in a second phase. Turnwell will leverage Enersol’s technology to enhance cost efficiency and safety. ADNOC Drilling will hold a 55% stake in Turnwell, SLB 30%, and Patterson-UTI 15%. The acceleration of the well program is expected to positively impact ADNOC Drilling's 2025 earnings and long-term growth.
Ooredoo Q.P.S.C. has announced that its wholly-owned subsidiary, Ooredoo International Finance Limited (OIFL), will make interest payments to its Global Medium Term Note (GMTN) holders. The payments will be made on 8 October 2024 and 21 October 2024, in accordance with the Terms and Conditions of the Notes and the Final Terms. Specifically, U.S. $1,000,000,000 @ 2.625% Guaranteed Notes due 8 April 2031 will have an interest payment of U.S. $13,125,000.00 on 8 October 2024, and U.S. $750,000,000 @ 5.00% Guaranteed Notes due 19 October 2025 will have an interest payment of U.S. $18,750,000.00 on 21 October 2024.
The Board of Directors of Fujairah Cement Industries (PJSC) held a meeting on Monday, September 30, 2024, from 11:00 AM to 1:00 PM. Nine board members were present, achieving an 82% quorum. The meeting included discussions on the company's current situation with their financial advisor, Ernst & Young, and updates on regular operational matters. The meeting was documented by Saeed Ahmed Ghareib Alseridi.
Emsteel Building Materials P.J.S.C, a public joint stock company, has announced the opening of nominations for membership on its Board of Directors. The nomination period runs from Monday, September 30, 2024, to Thursday, October 10, 2024. Interested candidates who meet the nomination criteria should submit their applications electronically via email to ir@emsteel.com, including a profile and supporting documents, and specifying the type of membership they are applying for (Executive Member, Non-Executive Member, or Independent Member). There are seven vacant seats available on the Board. The nomination period is open for 10 days in accordance with Article 9 of the Chairman of Authority’s Board.